Companies and Markets
Call us on +44 (0) 203 086 8600
Market Research A to Z | Company Profiles A to Z | RegisterRegister | Contact UsContact Us | Shopping Basket Shopping Basket
+44 (0) 203 086 8600 Call us on

Morocco Business Forecast Report Q3 2012

703.81

Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£703.81

Change Currency

GBP EURO USD

Market

All Sectors

Report Type

Country Guide

Country

Morocco

Published

1 July 2012

Number of Pages

35

Report Delivery

Download

Delivery Lead Time

Immediate

Publisher

Business Monitor International

File Format

PDF

Despite not possessing hydrocarbon wealth, the Moroccan economy will remain a relative outperformer in North Africa over the medium term. Though 2012 will prove a challenging year as exposure to the European recession takes its toll, investor interest in the country as an export-oriented manufacturing hub for the European market, coupled with a burgeoning tourism industry, will bode well for Moroccos underlying growth momentum through 2015. Despite the increasingly precarious state of public finances, fiscal policy will remain expansionary in the near term. The recently announced budget for 2012 has reaffirmed our view that the government would respond to popular protests about the state of the economy by ramping up spending on social services, subsidies and the public sector workforce.

Major Forecast Changes

We have turned less optimistic on Moroccos growth outlook in 2012. Declining grain yields will hit private consumption, while anaemic growth in the eurozone will leave limited room for an export-led expansion. We have revised down our real GDP growth forecast from 4.0% to 3.4%, though we continue to expect the economy to rebound in 2013, forecasting growth of 4.7%.

Risks To Outlook

Our forecasts for both economic activity and fiscal policy assume that Morocco will benefit from significant inflows of foreign aid from the Gulf Cooperation Council and other organisations in 2012. Should this assistance fail to materialise, it would pose serious downside risks to the countrys outlook. Moroccos balance of payments position is steadily deteriorating. Persistently high international commodity prices and weak growth in the eurozone are taking their toll on the current account, while financial account inflows have consistently failed to cover the shortfall. While we are not expecting to see a dirham devaluation in the near term – owing primarily to political considerations – the risks to this view are growing, and the possibility of a devaluation over the next 12 months is no longer negligible.

Speak to an Advisor

Call us on
+44 (0) 203 086 8600

Select License Type

Electronic License

Electronic License

An electronic version (mostly PDF, but can be Excel or PPT), which is either available for immediate download or will be sent via email by the Publisher of the report. The licencing for an electronic version is for use by the purchaser ONLY.

£703.81

Change Currency

GBP EURO USD

Change Currency

GBP
USD

Visitor Comments

All posts are pre-moderated and must obey the house rules.

Change Currency

GBP
USD

Change Currency

GBP
USD

Use our research skills: Get free support

Free Research Support: Let us do the work for you and find information from public and private sources of information. Contact us now and we can save you time and money.......Free Research Support

eBrandPromote: Get your brands ranked highly online

eBrandPromote: Let us promote your brand online through article writing, press release distribution, social media and search engine marketing services. Click here to download our eBrandPromote brochure.

Accessibility
Close

Contrast settings

Text size settings